The market for flavored syrups is estimated to be valued at USD 42.27 Billion in 2016. The market is projected to grow at a CAGR of 4.0% from 2016, to reach USD 51.31 Billion by 2021. The market for flavored syrups is segmented on the basis of type, application, flavor, and region. In 2015, the fruit flavored syrups segment accounted for the largest share of the market for flavored syrups during the forecast period. In addition, the market for flavored syrups is expected to grow due to increasing consumer demand for a variety of flavors in food products and personalized flavor options and product variety. Other factors driving the market growth include increasing consumer preference towards convenience foods & ready-to-eat products. The base year considered for this report is 2015 and the forecast period is from 2016 to 2021.

This research study involves the extensive usage of secondary sources to identify and collect information useful for this technical, market-oriented, and commercial study of the flavored syrups market. The primary sources are mainly several industry experts from core and related industries and preferred suppliers, manufacturers, distributors, service providers, reimbursement providers, technology developers, alliances, and standard and certification organizations related to all the segments of this industry’s value chain. In-depth interviews have been conducted with various primary respondents, including key industry participants, subject matter experts (SMEs), C-level executives of key market players, and industry consultants among other experts to obtain and verify critical qualitative and quantitative information as well as to assess future prospects.

This study includes analysis of value chain, Porter’s Five Forces model, and competitive landscape, market dynamics, market estimates in terms of value, volume, and future trends in the flavored syrups market. This report categorizes the global market for market for flavored syrups on the basis of type, application, flavor, and region.

On the basis of Flavor, the flavored syrups market is segmented as follows:

Fruit

Chocolate

Vanilla

Coffee

Herbs & Seasonings

Others (nuts, floral, and confectionery)

On the basis of Application, the flavored syrups market is segmented as follows:

Beverages

Dairy & Frozen Desserts

Confectionery

Bakery

On the basis of Flavor Type, the flavored syrups market is segmented as follows:

Sweet

Salty

Sour

Savory

Mint

On the basis of Region, the flavored syrups market is segmented as follows:

North America

Europe

Asia-Pacific

RoW

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Product Analysis

Product matrix, which gives a detailed comparison of the product portfolio of each company

The market size is projected to reach USD 51.31 Billion by 2021, at a CAGR of around 4.0% from 2016 to 2021. The global flavored syrups market has grown exponentially in the last few years. Emerging countries such as China, Thailand, and Singapore are the primary targets of the industry. Increasing consumer demand for a variety of flavors in food products, personalized flavor options and product variety, and increasing consumer preference towards convenience foods & ready-to-eat products are some of the major driving factors for this market.

On the basis of type, the flavored syrups market based on type is segmented into fruits, chocolate, vanilla, coffee, herbs & seasonings, and others (nuts, floral, and confectionery). Fruit flavored syrups accounted for the largest market share in 2015 followed by chocolate flavored syrups which is projected to grow at the highest CAGR during the forecast period due to its industrial application in bakery products, production of chocolate-flavored dairy drinks, frozen desserts, ice creams, chocolate confectionery, and chocolate-flavored beverages. Furthermore, the growing level of consumer demand for chocolate has boosted the consumption of chocolate flavors and their usage in a diverse range of food products as chocolate syrups are widely preferred by the final consumers in milkshakes, cold beverages, hot beverages such as tea and coffee, and as a topping on ice creams, pancakes, waffles, and cakes.

The flavored syrups market, based on application, is segmented into beverages, dairy & frozen desserts, confectionery, and bakery. Beverages accounted for the largest share of the flavored syrups market in 2015. Beverage application in the flavored syrups market is growing as they are largely used in producing cold beverages such as iced tea, flavored sodas, mochas, and to make customized cocktails & mock tails at food service outlets. Furthermore, there is an increasing trend of using flavored syrups in hot beverages such as tea and coffee (lattes) to provide flavor variations to consumers to meet their tastes and preferences.

On the basis of flavor type, the market is segmented into sweet, salty, sour, savory, and mint. The sweet form accounted for the largest market share in 2015. The savory form is projected to grow at the highest CAGR from 2016 to 2021. The importance of savory flavor is increasing as its application has expanded beyond beverages and are now commonly used in meat recipes, salad dressings, and for the preparation of cupcakes & pancakes in bakery items among other applications. Savory flavored syrups, such as spicy and herb, are also increasingly used in food applications.

Asia-Pacific is projected to grow at the highest CAGR during the forecast period. Diverse food habits, increasing popularity of the varieties of flavors in food products, and rising disposable income are some of the factors driving this market.

The flavored syrups market is highly competitive and concentrated due to the presence of a number of large- and small-scale firms. Acquisitions, new product developments, and expansions & investments are the key strategies adopted by market players to ensure their growth in the market. Players such as Sensient Technologies Corporation (U.S.), Monin Inc. (France), Kerry Group plc (Ireland), The Hershey Company (U.S), and Tate & Lyle (U.K) collectively accounted for the largest portion of the flavored syrups market in 2015. Other players such as R. Torre & Company (U.S.), Fuerst Day Lawson (U.K.), Sensory Effects (U.S.), Concord Foods (U.S.), NutriFood (U.S.), Mitr Phol Group (Thailand), and Toschi Vignola (Italy) also have a strong presence in this market.

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